Cineworld Group plc was founded in 1995 and is now one of the leading cinema groups in Europe. Originally a private company, it re-registered as a public company in May 2006 and listed on the London Stock Exchange in May 2007. Currently, Cineworld Group plc is the only quoted UK cinema business.
In December 2012, the Group acquired the Picturehouse chain of cinemas consisting of 21 cinemas, and in February 2014, the combination with Cinema City completed, creating the second largest cinema business in Europe (by number of screens). The enlarged Group now has 217 sites and a total of 2,000 fully digital screens. Our portfolio includes four out of the ten highest grossing cinemas in the UK and Ireland. We pride ourselves on outstanding picture quality and atmospheric surround sound; the soft, deep-down comfort of our modern seating; the crunch of our popcorn; and, most importantly, the friendliest customer service around. All our sites are digital, and we are one of the market leaders in 3D, a format which will become increasingly important.
In 2014, Cineworld accounted for 82.9 million admissions, had revenues of £619.4 million and an Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) before exceptional items of £126.6 million.

Merger Update

RNS


RNS Number : 1254P

Office of Fair Trading

27 September 2013




Invitation to Comment



Completed Acquisition by Cineworld Group PLC of Glasgow Science Centre IMAX



The Office of Fair Trading is considering whether this acquisition has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services..



Affected sector: Motion picture projection

Response to Competition Commission Announcement

Cineworld Group plc ("Cineworld") notes the Competition Commission's final decision regarding the acquisition of Picturehouse by Cineworld published today and in particular its requirement that Cineworld dispose of one cinema in each of the local areas of Aberdeen, Bury St Edmunds and Cambridge.

Having looked at a range of financial and strategic considerations, Cineworld reluctantly intends to dispose of the local Picturehouse cinema in both Aberdeen and Bury St Edmunds. In Cambridge we are still evaluating our options whether the local Picturehouse or Cineworld cinema will be sold.

Commenting on the announcement, Stephen Wiener, Chief Executive Officer of Cineworld Group plc, said: "We are very disappointed by the Competition Commission's final decision to sell three of our cinemas. We will be selling these cinemas as going concerns and will be supporting our affected cinema teams through the sale. In the meantime, Cineworld Group continues to invest in and grow both Picturehouse and Cineworld estates."


-Ends-

9 Oct JP Morgan... 428.00 Overweight

17 Oct N+1 Singer 402.00 Buy

Another cinema group rumoured to be joining aim by Christmas. Everyman cinemas.
Expected to raise £10m to fund expansion and be valued at £50m upon administration. (from Shares)

Interim management Statement

N+1 Singer Hold 389.00 389.00 402.00 376.00 Downgrades

Investec Buy 386.88 389.00 420.00 420.00 Retains

Numis Add 386.88 389.00 450.00 450.00 Reiterates

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Cineworld hopes watching Tolkien-blockbusters is Hobbit-forming
By John Harrington October 22 2013, 9:59am



This summer saw a larger proportion of family films; good for popcorn sales but not so good for full-price ticket sales.This summer saw a larger proportion of family films; good for popcorn sales but not so good for full-price ticket sales.

The assimilation of art-house chain Picturehouse into the Cineworld (LON:CINE) portfolio gave a boost to the group’s revenues over summer and early autumn.

In the 16 weeks to 17 October, the group’s total revenues rose 11.0% year-on-year on a pro-forma basis (i.e. assuming Picturehouse had been part of the group a year earlier), with box office takings up 8.1% and retail revenues – popcorn, ice creams and the like – up 12.1%.

The group’s core Cineworld chain saw revenues rise 1.7% from a year earlier, with box office sales up 1.4% and retail revenues up 1.1%. That performance was not bad considering the weather was not helpful during July and August, but it is also worth noting that in a large part of the period a year earlier a lot of Britons were eschewing the cinema to stay at home and watch the Olympics.

Cineworld said the proportion of family films in the schedule was higher this year, which means that, though admissions were up 2.3%, the growth in takings was lower because kids don’t pay full price for tickets.

The Picturehouse chain, which specialises in independent and foreign language films, saw pro-forma revenues surge 30.6%. Even the art-house crowd likes a snack while watching a film, apparently, as retail revenue growth at 17.3% outstripped a 12.3% rise in box office takings.

Picturehouse saw a 19.5% year-on-year decline in “other income” (such as advertising) but the group as a whole saw a 43.8% increase on this measure. Cineworld said Picturehouse’s decline in other income was due to the timing of film distribution income.

Though it went up against fairly soft comparatives over the summer period, the company will be hard pressed in the final quarter to match last year’s performance, when the James Bond “Skyfall” film did boffo business at the box office.

Cineworld is pinning its hopes on a “promising" line-up that includes "Thor: The Dark World", "Hunger Games: Catching Fire" and "The Hobbit: The Desolation of Smaug". No sequel is complete with a colon in the title: apparently ...

With this in mind, the company said it expects full-year results to be broadly in line with market expectations.

City firm Investec, which rates the shares a ‘buy’, said it looks as if strong first half (1H) trading continued into the third quarter, but it has shaved its fourth quarter forecasts a little, “to allow more certainty on delivery”.

“Our above consensus EBITDA [underlying earnings] £76mln felt justified at 1H given strong performance, but tougher 3Q industry trading implies 4Q has limited margin for error despite CINE strength/outperformance. We move FY13E EBITDA to £74mln (£76mln) - adj EPS [adjusted earnings per share] is c. -3% to 22.2p (22.9p). FY14E falls similarly to 24.3p (25p),” the Investec team revealed.

Shares in Cineworld were barely changed at 388.5p in mid-morning trading.

In Shares - Cineworld is a big hit.

A sell off in Cineworld provides a good buying opportunity in one of the more resilient stocks in the leisure sector. Investors have been nervous about tough comparative figures in the fourth quarter, thanks to last years strong takings from the James Bond film, Skyfall. This risk looks fully priced into the shares as does the need for Cineworld to sell three sites at the behest of the competition Commission.
Since Cineworld's trading update 22 Oct the film industry has generated plenty of positive headlines. Released on 30 Oct , Thor: The Dark World has posted the biggest opening at UK cinemas since Despicable Me 2 in late June, the latter being 2013's highest -grossing film of the year so far . Sci-fi epic Gravity was released last weekend and is expected to repeat its success in the US where it was October's highest grossing live action film release of all time.
More important to Cineworld is the positive impact Gravity may have in revitalising
public interest in 3D films. Gravity has received critical acclaim with notable recommendations to see the film in 3D, given its visual style. Filmgoers have slowly moved away from 3D versions of films, particularly family titles.
Reversing this trend would be lucrative for the likes of Cineworld as a premium applies to 3D film prices.

Cineworld has long been pone of our top picks in the leisure sector. Its copious cash generation funds the expansion of its own multiplex sites and will aid Picturehouse's growth. The liquidity also pays for a respectable dividend which equates at the time of writing to a yield of 3.4%.
Next year's earnings face disruption from the FIFA world Cup football tournament but Cineworld has shown it can always bounce back from high -profile sporting distractions. The slate for 2015's film release schedule looks immensely attractive with wall-t0-wall potential blockbusters including new titles from mega franchises including star Wars, Batman, Avengers and James Bond, and even an animated Charlie Brown/ Peanuts film.

Directorate Change

RNS


RNS Number : 4627T

Cineworld Group plc

20 November 2013






20 November 2013



CINEWORLD GROUP plc



Announcement



Cineworld Group plc ("Cineworld") today announces that after 44 years in the cinema industry and 18 years leading Cineworld as its Founder and CEO, Steve Wiener has decided that it is time to move on and enjoy the fruits of his success in building the UK's top cinema chain. Steve plans to leave the business on 31st March 2014 and an announcement regarding a new CEO will be made in due course.



Commenting on the announcement Anthony Bloom, Chairman of Cineworld, said: "I speak on behalf of the Board and everyone in the business when I thank Steve for having the vision to create Cineworld and subsequently building it into the UK's most popular cinema business. He has led the company with great distinction from the first day of its founding and has mentored and developed an outstanding management team. He will leave the business in fine shape and with significant management depth when he moves on to new challenges at the end of March.



"This is an exciting time for Cineworld as it continues with ambitious UK expansion plans. We have just opened our newest cinema in Wembley and are making steady progress on the well-developed programme Steve has put in place over the past several years. We look forward to the next chapter of our growth and express our deep appreciation to Steve."



Commenting on the above Steve Wiener said: "In 1995 my wife Jenny and I wrote a business plan to start a cinema company. We expected over a five year period to open five-seven multiplex cinemas and sell it on to one of the big operators.



"Today, in 2013, Cineworld is the number one cinema chain in the UK and has been for more than three years. This was achieved by a lot of hard work by an executive team that is the best I have ever worked with in my 44 years in the industry. I am sure with them on board Cineworld will continue to go from strength to strength."





-Ends-

Due a good bounce, next update on viewing figures should be good.

Yes they should.

I was there last night to watch 'American Hustle' and the place was extremely full - as per usual.

The toilets are always clean and non-smelly. The cinema theatres are thoroughly cleaned in between performances. The staff are excellent.

All in all, it's a pleasure to go and obviously very well managed.

Next movies for me to watch will be Robert Redford in 'All is Lost' and also '12 Years a Slave'. I don't think I will be going to watch 'Mandela', although the Telegraph rating is high for it.

Good to hear ExecLine.

Ps, have you looked at the company site for the special offers. You sound like a regular goer. ie buy the tickets on line for a 10% discount, will all help to buy a box of popcorn. :-))

No. I don't do the 10% discount Online booking thingy. Neither do I buy the Annual Pass.

I've tried to do online booking before and packed it in half way through, when I couldn't select my seats.

I like and prefer to call in when I'm passing of an afternoon, say going to the nearby supermarket, and select my seats in the middle of the Back Row for the night I want. I can't stand my seat being kicked from the back either. ;-)

8 Jan Numis 450.00 Add

Combination with Cinema City International


http://www.moneyam.com/action/news/showArticle?id=4736853

Up 11%

Broker snap: Panmure unsure about Cineworld's CCI deal

Fri, 10 January 2014


Panmure Gordon has maintained it 'sell' rating for cinema operator Cineworld after the company's proposed offer for Poland-listed, Dutch-headquartered Cinema City International (CCI).

The offer, which gives CCI an enterprise value (EV) on a debt- and cash-free basis of £503m, would be part-funded by a £110m rights issue at 230p a share.

CCI is said to have leading positions in emerging markets such as Slovakia, Bulgaria, Hungary as well as Israel and Poland.

"At first glance we struggle to see the logic for the acquisition given management’s insistence on the substantial growth opportunities available in the UK and the group’s failure to complete its proposed acquisition in Spain," Panmure said.

The broker maintained its 260p target price for Cineworld, which represents significant downside to the 426.8p share price on Friday morning, up 8.88% on the day.

"With another difficult year of trading ahead (disposal of three Picturehouse sites, World Cup impact in June and July, and uninspiring film slate) and now a significant acquisition of questionable logic which introduces higher risk into the investment proposition, we struggle to see many attractions for owning the stock."